Space Impulse Brief:
- Auriga Space announces an initial US $5 million funding round to deploy electromagnetic technology for space launch.
- With this initial funding, Auriga is advancing prototypes and expanding their Los Angeles facilities.
- The company’s investors include Trucks Venture Capital, Seraphim Space, Possible Ventures, Unlock Ventures, DNX Ventures, Monte Carlo Capital, Vermilion Ventures, Heuristic Capital and Syndicate 708.
NEWS RELEASE — October 11, 2023 — Since the beginning of humanity, space has captivated our imaginations. In the 66 years since the launch of the first satellite, we have sent spacecraft, instruments and people to explore beyond our planet. Today, space is a source of great innovation for our lives on Earth, from enhancing global connectivity, bolstering trade and security to helping us monitor climate change.
We’ve only begun to unlock all the ways space can improve the planet we live on. While we embrace this potential, the high cost of space launch– both monetary and environmental– limits the pace and breadth of what we can discover.
Auriga Space has set its sights on changing this. Today, we announce an initial $5M funding round to deploy electromagnetic technology for space launch. Our venture aims not only to address the cost and efficiency of space exploration, but to help lead the space industry’s necessary shift to clean energy. In doing so, we open up space to more talented innovators and entrepreneurs and reduce harmful atmospheric impacts.
Opening Up Space Access
Historically, chemically-fueled rockets were the only viable means of space launch. The expense of building these one-time-use rockets made space exploration the exclusive domain of governments and their contractors. However, at the turn of the century, SpaceX commercialized reusable rockets and, in doing so, revolutionized the economics of space access.
Fast forward to 2023, and the increase in launch capacity has enabled a new wave of commercial industries that address life on Earth. Businesses like StarLink and OneWeb facilitate global connectivity; Planet Labs collects crucial emissions and climate data; and rapid satellite deployments bolster national security.
Even with this capacity, the demand for space launch has outpaced the existing supply. This surge in demand brings a new challenge: environmental sustainability. If the industry solely relies on chemically-fueled launches, it risks disrupting atmospheric circulation and further depleting the ozone layer. The space sector has grown too large and too vital to ignore its environmental impact.
At Auriga Space, we see a tremendous opportunity in these challenges.
A New Power for Space Launch
Our bet is to employ electromagnetic technology to propel launch vehicles into space.
And here’s what happens when we do:
Expanded launch capacity. Electromagnetic technology simplifies the launch mechanism and reduces its mass and need for fuel, resulting in more efficient and less expensive launches. These lower costs enable more players to enter the commercial space business.
Flexibility in launch schedules. Our technology simplifies each individual launch, enabling satellite operators to be more agile and responsive to changing circumstances, like orbital positioning. Our launcher is also all-weather, enabling rapid satellite replenishment, bolstering national security, and ensuring persistent space access.
Shift to clean space launch. Over 70% of a rocket’s mass is fuel that burns off within the first 2 to 3 minutes. Our approach relies on electricity to accelerate spacecraft to hypervelocity, which significantly reduces the use of hazardous propellants.
This is an audacious goal; we’re shooting for the stars. But the payoff is even bigger– for exploration, for science, and for our planet.
Our investors: Trucks Venture Capital, Seraphim Space, Possible Ventures, Unlock Ventures, DNX Ventures, Monte Carlo Capital, Vermilion Ventures, Heuristic Capital and Syndicate 708, agree.
“With 100k+ satellites across 150+ constellations that will need to be deployed into orbit over the coming decade, Auriga is perfectly positioned to reduce the required fuel of these launches by upwards of 90%. In addition to the enormous impact of this decarbonization, the service will be less sensitive to weather, thus making Auriga the most dependable way to reach space. We are thrilled to have backed Winnie and her vision for Auriga Space,” says Jeff Schox, Partner at Trucks Venture Capital.
With this initial funding, we’re advancing prototypes and expanding our Los Angeles facilities. The team is growing, and we’re honored to add Blake Scholl, Founder & CEO of Boom Supersonic and Ashley Johnson, COO & CFO of Planet Labs as advisors.
Together, we are building a future in which more talented teams, groundbreaking science and commercial innovation can impact life on Earth and beyond.
SOURCE: Auriga Space
Featured image: Credit: Auriga Space
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